Mind Medicine (MindMed) (NASDAQ:MNMD) Announces Earnings Results

Mind Medicine (MindMed) (NASDAQ:MNMD) posted its earnings results on Thursday. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.08), Zacks reports. During the same period in the prior year, the firm posted ($0.59) earnings per share.

Mind Medicine (MindMed) Trading Up 5.6 %

Mind Medicine (MindMed) stock traded up $0.36 during trading on Thursday, hitting $6.74. The company’s stock had a trading volume of 728,004 shares, compared to its average volume of 1,677,411. The stock has a market capitalization of $493.89 million, a price-to-earnings ratio of -2.99 and a beta of 2.59. The stock’s fifty day moving average is $7.44 and its 200 day moving average is $6.91. Mind Medicine has a 1-year low of $5.03 and a 1-year high of $12.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 9.00 and a current ratio of 9.00.

Analysts Set New Price Targets

A number of analysts have commented on the company. Oppenheimer reiterated an “outperform” rating and set a $20.00 target price on shares of Mind Medicine (MindMed) in a research report on Tuesday, December 17th. Chardan Capital initiated coverage on Mind Medicine (MindMed) in a research report on Friday, December 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Evercore ISI initiated coverage on Mind Medicine (MindMed) in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Mind Medicine (MindMed) in a research report on Friday, January 31st. Ten analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $26.33.

Insider Activity at Mind Medicine (MindMed)

In related news, CEO Robert Barrow sold 19,106 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $7.43, for a total value of $141,957.58. Following the completion of the transaction, the chief executive officer now directly owns 526,666 shares in the company, valued at approximately $3,913,128.38. This represents a 3.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dan Karlin sold 6,643 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $7.43, for a total value of $49,357.49. Following the completion of the transaction, the insider now owns 338,013 shares of the company’s stock, valued at $2,511,436.59. The trade was a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,022 shares of company stock worth $208,203. 2.26% of the stock is currently owned by insiders.

Mind Medicine (MindMed) Company Profile

Mind Medicine (MindMed) Inc, a clinical stage biopharmaceutical company, develops novel products to treat brain health disorders. The company’s lead product candidates include MM-120, which is in phase 2 for the treatment of generalized anxiety disorder and attention deficit hyperactivity disorder; and MM-402, a R-enantiomer of 3,4-methylenedioxymethamphetamine, which is in phase I clinical trials for the treatment of core symptoms of autism spectrum disorder.